AERIS RESOURCES LIMITED — Capital/Financing Update 2012

May 17, 2012

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18 May 2012

Mr W Baggott ASX Limited Level 8, Exchange Plaza 2 The Esplanade PERTH WA 6000

STRAITS RESOURCES LIMITED – ABN 30 147 131 977 (Company) NOTICE UNDER SECTION 708A(5)(e) CORPORATIONS ACT 2001 (CTH)

Further to the Company’s announcement on 11 May in relation to its institutional share placement and share purchase plan offer, the Company has today issued 48,400,000 fully paid, ordinary shares at a price of $0.62 per share to institutional and exempt investors.

The Company relies on case 1 in section 708A(5) of the Corporations Act 2001 (Cth) ( Corporations Act ) in respect of the issue of the Placement Shares.

The Company gives notice under paragraph 5(e) of section 708A of the Corporations Act that:

1. the Company issued the Tranche 1 Placement Shares without disclosure to the Placement Share investors under Part 6D.2 of the Corporations Act;

2. as at the date of this notice:

   • a. the Company has complied with the provisions of Chapter 2M of the Corporations Act as they apply to the Company;

   • b. the Company has complied with section 674 of the Corporations Act; and

   • c. there is no “excluded information” (as that term is defined in Sections 708A(7) and 708A(8) of the Corporations Act) relating to the Company which is required to be disclosed by the Company.

Signed for Straits Resources Limited by

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Matthew Smith Company Secretary

STRAITS RESOURCES LIMITED ABN 30 147 131 977 Level 1  35 Ventnor Avenue  West Perth WA 6005  Australia | PO Box 1641  West Perth WA 6872 T: +61 8 9480 0500  F: +61 8 9480 0520  E: info@straits.com.au  www.straits.com.au